First my apologies for yesterday's Profit Margin. Apparently it just went out tonight rather then last night! It was an error on my part and has been corrected!
OK, back to business..........
Yes, these guys are good. So good I a amazed. How could any group of leaders be so adept at following our Congressional Leaders? The Euro guys have done it!! That have effectively done absolutely NOTHING to resolve the Euro crisis. Isn't that amazing? Just like our Congress doing nothing to fix things here at home. Amazing!! Over and over again for some two years the Euro guys have accomplished little to nothing. What a feat! Yup, the Euro guys (just like our guys) are excelling at postponements, arguing, refusing to negotiate, and other stalling tactics. I have not yet been able to understand this enlightened manner of crisis resolution, but I am sure our guys and the Euro guys know what they are doing. I have hopes of someday learning this new method of managing money and crisis intervention so that I too can apply these principles to my personal life. I'd also like to learn Uncle Ben's technique for printing money! How cool is that??
Ok, enough sarcasm and BS. But the Euro guys did do it again. The postponed the Finance meeting scheduled for tomorrow, and later came out and said that the Summit meeting tomorrow that everyone was hoping would produce a "solution" plan, will probably not produce the results the markets are looking for. Translation............ they ain't doing diddly.
And how did the market react to that? DUH! Tank Tank Tank (and I don't mean armored military vehicles). Of course Amazon and Netflix didn't help at all. But for me the real issue is the politicians refusal to deal with reality. That leaves uncertainty in the market. And the market hates uncertainty!! And as each "rumor" about a fix in Europe is revealed to be nothing more than hot air, the moves up get slammed back down. Just like today. And down on higher volume, which tells me that there is a much greater willingness to sell than there is to buy.
Chart is below and speaks for itself. Note the changes in the trend table.
CURRENT MARKET TRENDS
Long Term (Weekly Chart) – Sideways
Medium Term (3 day chart) – Sideways
Short Term (Daily Chart) – Down
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